Lazard Freres Gestion S.A.S.

Diversified strategyMomentum followerQuality / disciplined sizing

Total reported value

$5.1B

Reporting period: 2026-03-31 · Number of holdings: 123

Lazard Freres Gestion S.A.S. disclosed 123 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $5.1B and a quarterly turnover rate of 15.3%.

Personality snowflake

Concentration: 14.44
Portfolio Stability: 15.31
Momentum/Contrarian: 100
Sector conviction: 54.76
Diversification: 100
Sizing Uniformity: 81.38

Recent moves

Trim MSFT
+1.9%　-$110.8M
Trim ACN
-2.6%　-$51.5M
Add MSI
-2.0%　$18.5M
Add AMAT
-13.3%　$20.1M
Add COST
+4.5%　$20.7M
Trim EL
-0.8%　-$37.5M

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	MSFT	Microsoft CORP	Stock-Tech	7.74%	-1.33%	+1.88%
2	GOOGL	Alphabet Inc-cl A	Stock-Comm Services	7.30%	+0.03%	-0.16%
3	AMZN	Amazon.com INC	Stock-Consumer Disc	6.58%	-0.01%	+1.20%
4	AAPL	Apple INC	Stock-Tech	6.29%	+0.24%	+1.76%
5	NVDA	Nvidia CORP	Stock-Tech	5.02%	+0.03%	-1.67%
6	V	Visa Inc-class A Shares	Stock-Financials	4.44%	-0.20%	+1.51%
7	RTX	Rtx CORP	Stock-Industrials	3.93%	+0.45%	-1.93%
8	MSI	Motorola Solutions INC	Stock-Tech	3.69%	+0.65%	-1.99%
9	AMAT	Applied Materials INC	Stock-Tech	2.99%	+0.62%	-13.32%
10	MDT	Medtronic plc	Stock-Healthcare	2.70%	-0.25%	-7.33%
11	MRK	Merck & Co. INC.	Stock-Healthcare	2.69%	+0.43%	-5.16%
12	ACN	Accenture plc	Stock-Tech	2.61%	-0.70%	-2.60%
13	ZTS	Zoetis INC	Stock-Healthcare	2.45%	+0.05%	-0.72%
14	COST	Costco Wholesale CORP	Stock-Consumer Staples	2.37%	+0.57%	+4.52%
15	PH	Parker Hannifin CORP	Stock-Industrials	2.16%	+0.22%	+0.07%
16	META	Meta Platforms Inc-class A	Stock-Comm Services	2.09%	-0.17%	-2.82%
17	OTIS	Otis Worldwide CORP	Stock-Industrials	2.04%	-0.02%	+2.43%
18	SPGI	S&p Global INC	Stock-Financials	1.83%	-0.17%	+2.73%
19	APH	Amphenol Corp-cl A	Stock-Tech	1.71%	-0.13%	-8.83%
20	EL	Estee Lauder Companies-cl A	Stock-Consumer Staples	1.57%	-0.54%	-0.77%
21	AVGO	Broadcom INC	Stock-Tech	1.41%	+0.01%	+3.09%
22	LLY	Eli Lilly & Co	Stock-Healthcare	1.40%	-0.02%	+5.32%
23	CL	Colgate-palmolive Co	Stock-Consumer Staples	1.29%	+0.18%	-1.28%
24	MS	Morgan Stanley	Stock-Financials	1.28%	-0.27%	-18.68%
25	NKE	Nike INC -cl B	Stock-Consumer Disc	1.27%	-0.09%	+2.82%
26	KLAC	Kla CORP	Stock-Tech	1.17%	+0.19%	-10.14%
27	ECL	Ecolab INC	Stock-Materials	1.15%	+0.03%	-7.23%
28	ROST	Ross Stores INC	Stock-Consumer Disc	1.12%	—	-16.59%
29	ICE	Intercontinental Exchange In	Stock-Financials	1.10%	-0.01%	-7.08%
30	HON	Honeywell International INC	Stock-Industrials	1.07%	+0.23%	+0.53%
31	MAR	Marriott International -cl A	Stock-Consumer Disc	1.06%	-0.01%	-14.38%
32	CVX	Chevron CORP	Stock-Energy	1.03%	+0.33%	-0.28%
33	MCO	Moody's CORP	Stock-Financials	1.01%	-0.13%	-5.39%
34	JPM	Jpmorgan Chase & Co	Stock-Financials	1.00%	+0.01%	+0.90%
35	MLM	Martin Marietta Materials	Stock-Materials	0.95%	+0.04%	+0.82%
36	BDX	Becton Dickinson And Co	Stock-Healthcare	0.94%	-0.37%	-19.25%
37	MDLZ	Mondelez International Inc-a	Stock-Consumer Staples	0.94%	+0.26%	+17.13%
38	SPY	Ss Spdr S&p 500 ETF Trust-us	ETF-Large Cap & Growth	0.91%	-0.13%	-16.42%
39	TMUS	T-mobile US INC	Stock-Comm Services	0.90%	+0.28%	+27.95%
40	DIS	Walt Disney Co/the	Stock-Comm Services	0.85%	-0.06%	-0.00%
41	WFC	Wells Fargo & Co	Stock-Financials	0.84%	-0.06%	—
42	IDXX	Idexx Laboratories INC	Stock-Healthcare	0.75%	-0.02%	+6.81%
43	MTD	Mettler-toledo International	Stock-Healthcare	0.74%	-0.01%	-0.02%
44	GOOG	Alphabet Inc-cl C	Stock-Comm Services	0.49%	—	+2.04%
45	SPOT	Spotify Technology S.A.	Stock-Comm Services	0.40%	—	+29.63%
46	BRK-B	Berkshire Hathaway Inc-cl B	Stock-Other	0.37%	-0.09%	-22.30%
47	BSX	Boston Scientific CORP	Stock-Healthcare	0.27%	+0.27%	NEW
48	WAT	Waters CORP	Stock-Healthcare	0.23%	+0.23%	NEW
49	PG	Procter & Gamble Co/the	Stock-Consumer Staples	0.14%	—	—
50	BRK-A	Berkshire Hathaway Inc-cl A	Stock-Other	0.10%	-0.10%	-53.33%

1–50 of 123

Portfolio Performance

Performance for Q3 2026

+3.5%

Performance Last 4 Quarters

+22%

Based on 75% of reported portfolio value with available pricing

Stdev: +13.5%
Beta: +0.96
Alpha: -0.4%
Max Drawdown: -12.2%
Annualized Perf: +17.7%
Batting Avg vs S&P: +50%
Sortino: +2.4
Stutzer: +0.37
Treynor: +0.18
Sterling: +0.9
Calmar: +1.45
Information Ratio: -0.23
Tracking Error: +5.1%
Stdev Down: +7.2%
Winning Months %: +66.7%
Losing Months %: +33.3%
Best 12 Months: +35.7%
Worst 12 Months: +3.4%
Efficiency Ratio: +0.52
Sharpe: +1.28
Stdev Sectors: +9.1%
Skewness: -0.16
Kurtosis: -0.14
Upside Potential: +4

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2026-03-31	123	$5.1B	15	1MSFT 2GOOGL 3AMZN Top holdings2026-03-31 1.MSFT 2.GOOGL 3.AMZN 4.AAPL 5.NVDA 6.V 7.RTX 8.MSI 9.AMAT 10.MDT
2025-12-31	112	$5.6B	13	1MSFT 2GOOGL 3AMZN Top holdings2025-12-31 1.MSFT 2.GOOGL 3.AMZN 4.AAPL 5.NVDA 6.V 7.RTX 8.ACN 9.MSI 10.MDT
2025-09-30	112	$5.3B	31	1MSFT 2GOOGL 3AMZN Top holdings2025-09-30 1.MSFT 2.GOOGL 3.AMZN 4.AAPL 5.NVDA 6.V 7.RTX 8.ZTS 9.MSI 10.MDT
2025-06-30	110	$4.8B	0	1MSFT 2AMZN 3AAPL Top holdings2025-06-30 1.MSFT 2.AMZN 3.AAPL 4.GOOGL 5.NVDA 6.V 7.ACN 8.RTX 9.ZTS 10.MDT
2025-03-31	103	$4.1B	100	1MSFT 2AMZN 3GOOGL Top holdings2025-03-31 1.MSFT 2.AMZN 3.GOOGL 4.AAPL 5.V 6.ACN 7.ZTS 8.NVDA 9.BDX 10.RTX
2024-12-31	101	$5.0B	0	1MSFT 2AMZN 3GOOGL Top holdings2024-12-31 1.MSFT 2.AMZN 3.GOOGL 4.V 5.AAPL 6.ACN 7.ZTS 8.RTX 9.BDX 10.NVDA
2024-09-30	97	$4.7B	0	1MSFT 2AMZN 3GOOGL Top holdings2024-09-30 1.MSFT 2.AMZN 3.GOOGL 4.AAPL 5.V 6.ACN 7.ZTS 8.NVDA 9.MRK 10.RTX
2024-06-30	93	$4.3B	0	1MSFT 2AMZN 3GOOGL Top holdings2024-06-30 1.MSFT 2.AMZN 3.GOOGL 4.V 5.MRK 6.ACN 7.AAPL 8.NVDA 9.GOOG 10.RTX
2024-03-31	77	$4.0B	0	1MSFT 2AMZN 3V Top holdings2024-03-31 1.MSFT 2.AMZN 3.V 4.GOOGL 5.MRK 6.ACN 7.PH 8.BDX 9.RTX 10.GOOG
2023-12-31	78	$3.5B	0	1MSFT 2AMZN 3V Top holdings2023-12-31 1.MSFT 2.AMZN 3.V 4.GOOGL 5.MRK 6.ACN 7.BDX 8.PH 9.GOOG 10.RTX
2023-09-30	79	$3.1B	0	1MSFT 2AMZN 3GOOGL Top holdings2023-09-30 1.MSFT 2.AMZN 3.GOOGL 4.V 5.MRK 6.ACN 7.BDX 8.CVX 9.PH 10.GOOG
2023-06-30	79	$3.3B	0	1MSFT 2AMZN 3V Top holdings2023-06-30 1.MSFT 2.AMZN 3.V 4.MRK 5.GOOGL 6.ACN 7.BDX 8.RTX 9.PH 10.CVX
2023-03-31	78	$2.7B	0	1MSFT 2V 3MRK Top holdings2023-03-31 1.MSFT 2.V 3.MRK 4.AMZN 5.GOOGL 6.ACN 7.BDX 8.RTX 9.CVX 10.PH
2022-12-31	74	$2.8B	0	1MSFT 2MRK 3V Top holdings2022-12-31 1.MSFT 2.MRK 3.V 4.BDX 5.AMZN 6.GOOGL 7.CVX 8.ACN 9.RTX 10.PH
2022-09-30	74	$2.6B	0	1MSFT 2AMZN 3MRK Top holdings2022-09-30 1.MSFT 2.AMZN 3.MRK 4.V 5.GOOGL 6.BDX 7.ACN 8.CVX 9.RTX 10.PH
2022-06-30	65	$2.8B	0	1MSFT 2AMZN 3MRK Top holdings2022-06-30 1.MSFT 2.AMZN 3.MRK 4.GOOGL 5.V 6.BDX 7.CVX 8.ACN 9.RTX 10.EL
2022-03-31	70	$3.3B	0	1MSFT 2AMZN 3GOOGL Top holdings2022-03-31 1.MSFT 2.AMZN 3.GOOGL 4.V 5.CVX 6.ACN 7.BDX 8.MRK 9.RTX 10.GOOG
2021-12-31	68	$3.7B	0	1MSFT 2AMZN 3GOOGL Top holdings2021-12-31 1.MSFT 2.AMZN 3.GOOGL 4.ACN 5.V 6.PG 7.BDX 8.RTX 9.EL 10.MRK
2021-09-30	69	$3.6B	0	1MSFT 2AMZN 3GOOGL Top holdings2021-09-30 1.MSFT 2.AMZN 3.GOOGL 4.V 5.ACN 6.RTX 7.BDX 8.MRK 9.LIN 10.EL
2021-06-30	68	$3.1B	100	1AMZN 2MSFT 3GOOGL Top holdings2021-06-30 1.AMZN 2.MSFT 3.GOOGL 4.V 5.RTX 6.ACN 7.EL 8.BDX 9.LIN 10.MRK
2021-03-31	86	$2.9B	15	1AMZN 2MSFT 3GOOGL Top holdings2021-03-31 1.AMZN 2.MSFT 3.GOOGL 4.ACN 5.V 6.RTX 7.EL 8.BDX 9.LIN 10.PH
2020-12-31	87	$3.1B	—	1AMZN 2MSFT 3GOOGL Top holdings2020-12-31 1.AMZN 2.MSFT 3.GOOGL 4.BDX 5.ACN 6.RTX 7.EL 8.LIN 9.V 10.MRK

Holding changes this quarter

Lazard Freres Gestion S.A.S.'s most significant position changes for 2026-03-31: Sold out: Adobe INC (ADBE); New buy: Boston Scientific CORP (BSX); New buy: Waters CORP (WAT); Add: Microsoft CORP (MSFT) — shares +1.88%; Trim: Accenture plc (ACN) — shares -2.60%.

Position changes disclosed by Lazard Freres Gestion S.A.S. for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	MSI	Motorola Solutions INC	+0.7%	-1.99%	Trim
2	AMAT	Applied Materials INC	+0.6%	-13.32%	Trim
3	COST	Costco Wholesale CORP	+0.6%	+4.52%	Add
4	RTX	Rtx CORP	+0.5%	-1.93%	Trim
5	MRK	Merck & Co. INC.	+0.4%	-5.16%	Trim
6	CVX	Chevron CORP	+0.3%	-0.28%	Trim
7	TMUS	T-mobile US INC	+0.3%	+27.95%	Add
8	MDLZ	Mondelez International Inc-a	+0.3%	+17.13%	Add
9	AAPL	Apple INC	+0.2%	+1.76%	Add
10	HON	Honeywell International INC	+0.2%	+0.53%	Add
11	PH	Parker Hannifin CORP	+0.2%	+0.07%	Add
12	KLAC	Kla CORP	+0.2%	-10.14%	Trim
13	CL	Colgate-palmolive Co	+0.2%	-1.28%	Trim
14	ZTS	Zoetis INC	+0.1%	-0.72%	Trim
15	MLM	Martin Marietta Materials	0%	+0.82%	Add
16	GOOGL	Alphabet Inc-cl A	0%	-0.16%	Trim
17	NVDA	Nvidia CORP	0%	-1.67%	Trim
18	ECL	Ecolab INC	0%	-7.23%	Trim
19	AVGO	Broadcom INC	0%	+3.09%	Add
20	JPM	Jpmorgan Chase & Co	0%	+0.90%	Add
21	AMZN	Amazon.com INC	0%	+1.20%	Add
22	ICE	Intercontinental Exchange In	0%	-7.08%	Trim
23	MAR	Marriott International -cl A	0%	-14.38%	Trim
24	MTD	Mettler-toledo International	0%	-0.02%	Trim
25	OTIS	Otis Worldwide CORP	0%	+2.43%	Add
26	LLY	Eli Lilly & Co	0%	+5.32%	Add
27	IDXX	Idexx Laboratories INC	0%	+6.81%	Add
28	VRSK	Verisk Analytics INC	0%	-51.21%	Trim
29	BALL	Ball CORP	0%	-90.07%	Trim
30	DIS	Walt Disney Co/the	-0.1%	-0.00%	Trim
31	WFC	Wells Fargo & Co	-0.1%	—	Unchanged
32	NKE	Nike INC -cl B	-0.1%	+2.82%	Add
33	BRK-B	Berkshire Hathaway Inc-cl B	-0.1%	-22.30%	Trim
34	BRK-A	Berkshire Hathaway Inc-cl A	-0.1%	-53.33%	Trim
35	CRM	Salesforce INC	-0.1%	-65.29%	Trim
36	APH	Amphenol Corp-cl A	-0.1%	-8.83%	Trim
37	MCO	Moody's CORP	-0.1%	-5.39%	Trim
38	SPY	Ss Spdr S&p 500 ETF Trust-us	-0.1%	-16.42%	Trim
39	META	Meta Platforms Inc-class A	-0.2%	-2.82%	Trim
40	SPGI	S&p Global INC	-0.2%	+2.73%	Add
41	V	Visa Inc-class A Shares	-0.2%	+1.51%	Add
42	MDT	Medtronic plc	-0.3%	-7.33%	Trim
43	MS	Morgan Stanley	-0.3%	-18.68%	Trim
44	BDX	Becton Dickinson And Co	-0.4%	-19.25%	Trim
45	EL	Estee Lauder Companies-cl A	-0.5%	-0.77%	Trim
46	ACN	Accenture plc	-0.7%	-2.60%	Trim
47	MSFT	Microsoft CORP	-1.3%	+1.88%	Add
48	ADBE	Adobe INC	—	EXIT	Sold out
49	BSX	Boston Scientific CORP	—	NEW	New buy
50	WAT	Waters CORP	—	NEW	New buy

FAQ

What is Lazard Freres Gestion S.A.S. and what type of investor is it?

Lazard Freres Gestion S.A.S. is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-03-31), the firm manages a tracked equity portfolio valued at approximately $5.1B, spread across 123 disclosed positions.

What are Lazard Freres Gestion S.A.S.'s largest equity positions?

Based on the latest 13F filing, Lazard Freres Gestion S.A.S.'s top holdings by market value are: 1. Microsoft CORP (MSFT) — $392.5M (7.7%) 2. Alphabet Inc-cl A (GOOGL) — $370.3M (7.3%) 3. Amazon.com INC (AMZN) — $333.8M (6.6%) 4. Apple INC (AAPL) — $318.8M (6.3%) 5. Nvidia CORP (NVDA) — $254.7M (5.0%)

What changes did Lazard Freres Gestion S.A.S. make in its most recent portfolio filing?

In the latest reported quarter, Lazard Freres Gestion S.A.S. made 49 notable position adjustments: 2 new positions were initiated, 17 existing holdings were added to, 29 positions were partially reduced, and 1 were completely exited. The largest of these moves: Sold out: Adobe INC (ADBE); New buy: Boston Scientific CORP (BSX); New buy: Waters CORP (WAT); Add: Microsoft CORP (MSFT) — shares +1.88%; Trim: Accenture plc (ACN) — shares -2.60%

What sectors does Lazard Freres Gestion S.A.S. focus on?

Lazard Freres Gestion S.A.S. is concentrated in the following sectors based on its current disclosed equity portfolio: • Information Technology: 33.6% • Health Care: 12.4% • Communication Services: 12.3% • Financials: 12.2% • Consumer Discretionary: 10.3% • Industrials: 9.5%